Mpati Commission recommendations largely implemented: GEPF’s Baleni
The Government Employees Pension Fund (GEPF) says it has met most of the recommendations of the Mpati Commission of Inquiry, with just one remaining, the appointment of an independent board chair at the Public Investment Corporation ( PIC).
The Commission was established to investigate allegations of impropriety, corruption, and governance failures at the PIC.
Fund Chairperson Frans Baleni says while key recommendations have been implemented, the removal of the Deputy Minister of Finance from the PIC board remains strictly at the discretion of the Finance Minister.
The statement comes after Deputy Finance Minister David Masondo resigned from the PIC board on Thursday.
Baleni has reassured fund members that public sector pensions remain completely safe.
“ In terms of the recommendations of the Mpati Commission, I can assure you what was supposed to be done by GEPF have been done 100%, what was supposed to have been done by PIC has been done, safe for areas which have been referred to the law enforcement agencies which is beyond the PIC and GEPF. There is one area that Mpati mentioned that the chairperson should be an independent chair. That is beyond my pay grade, it is a political decision. You rather ask the shareholders, I can’t speak on the appointment because they are done at shareholder level.”